When did SBP commence its operation?

The State Bank of Pakistan (SBP) officially commenced its operations on July 1, 1948. This was a pivotal moment for the newly independent nation of Pakistan, as it established its own central bank to manage its monetary policy, issue currency, and regulate the financial system, thereby asserting its economic sovereignty.

• 1947 was the year of Pakistan's independence, but the SBP was formally established and began operations the following year.
• 1949 and 1950 are incorrect as the State Bank of Pakistan was already fully operational by these years, having been established in 1948.